Tags: McClendon | American Energy | shale | Utica

American Energy Partners Spends $4.25 Billion to Add Shale Acres

Monday, 09 Jun 2014 07:58 AM

American Energy Partners LP, the company formed by former Cheasapeake Energy Corp. Chief Executive Officer Aubrey McClendon, agreed to buy acreage in the Marcellus, Utica and Permian Basin in three transactions for a total of $4.25 billion.

American Energy - Permian Basin LLC will acquire about 63,000 net acres in the Permian Basin of Texas from Enduring Resources LLC for $2.5 billion, the Oklahoma City-based company said in a statement today.

In a separate release, American Energy said its Utica affiliate will purchase about 27,000 net acres in Ohio from East Resources Inc. and an unidentified closely held company. A third American Energy affiliate will buy 48,000 net acres in West Virginia from East Resources and an unnamed company.

McClendon formed American Energy last year after being forced from his role as chairman and CEO of the company he co-founded because of shareholder unrest.

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American Energy Partners LP, the company formed by former Cheasapeake Energy Corp. Chief Executive Officer Aubrey McClendon, agreed to buy acreage in the Marcellus, Utica and Permian Basin in three transactions for a total of $4.25 billion.
McClendon, American Energy, shale, Utica
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2014-58-09
Monday, 09 Jun 2014 07:58 AM
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